Suppose stock trading today at 100. I wanted to buy at a lower price around 90. I place a gtt Order with trigger and price at 90 and 91. It didn’t go below and closed at 100. Next day a gap down opening and market opens at 85, now since the trigger is activated, at what price my order gets filled? As market order at 85 or something like a stop loss limit buy order and get filled when price goes up at 91? Kindly explain
Order will get filled at your Limit Price when stock moves back to that price point.
So limit price is nothing but the highest price we are willing to pay to buy the shares. So if the market gaps down to 85 out GTT executes a limit order of 91 so immedietly our order gets filled (acting a market order) as the current price is discount to the limit price of 91.
Have answered similar query here, should help you understand.